沪市债券新语 | 加深投融交流 高成长产业债集中路演

Core Viewpoint - The Shanghai Stock Exchange (SSE) is promoting the "High-Growth Industry Bond" mechanism to enhance communication between issuers and investors, emphasizing the concept of "credit equals return" [1][3][4]. Group 1: Mechanism and Objectives - The High-Growth Industry Bond mechanism aims to alleviate the financing difficulties faced by industrial enterprises by improving information disclosure, investor protection, and facilitating communication between issuers and investors [2][3]. - SSE is actively organizing centralized roadshows to support the interaction between issuers and investors, thereby enhancing mutual trust and understanding [2][3]. Group 2: Roadshow and Participation - A recent centralized roadshow included 15 issuers and 30 investment institutions, where participants discussed the benefits and suggestions regarding High-Growth Industry Bonds [2][5]. - Issuers reported that since the launch of High-Growth Industry Bonds, they have engaged in extensive communication with investors, showcasing their strategic plans and business advantages [2][4]. Group 3: Responsibilities and Opportunities - The High-Growth Industry Bond mechanism presents both opportunities and obligations for issuers, requiring them to ensure timely and compliant information disclosure while fulfilling commitments made in offering documents [4][5]. - Investors expressed the need for more comprehensive and frequent disclosures from issuers to enhance their understanding of industry developments and operational conditions [5]. Group 4: Market Impact and Future Goals - As of July 31, 2025, a total of 63 High-Growth Industry Bonds have been issued, amounting to 41.905 billion yuan, with a target of reaching 100 bonds by the end of the year [5]. - The SSE aims to foster a market environment of mutual trust between issuers and investors, which entails responsibilities for both parties in terms of information disclosure and risk management [5][6].